The size is a bit awkward (think: looks big enough for an island but is actually just too small to logistically have one).

The "major disaster" declaration is totally inappropriate for the island of Vieques. 

A landlord, out of the goodness of their heart, may choose to refund rent paid or not collect rent during the period of time the unit is uninhabitable.

locally I've seen a number of posts to social media from renters who are having a hard time getting in touch with their landlords and/or getting them to deal with damage that's made the house unsafe or uninhabitable because of a downed tree or other obstruction.  

Surprised you are getting those cap rates in Long Island.  

Rather I'd prefer to hold property and gain from it on a monthly basis.I know it's more complicated from that, which is why I want to learn.So basically, I'd like to know if you have any specific material for off-country investment, vacation property that may only work half the year (In Crete, I understand the island is not active during the winter), management, and biographies/success stories/mistake stories of such cases.I type as I think, so I might be all over the place, apologies for that.Thank you very much!

Currently the scenarios I consider are:1) Housing slumps: reduced liquidity and rent decreases ..2) Money lenders calling a loan for some reason..transferring title to LLC etc.3) Uninhabitable property... fire, flood etc... 

Quick notes about me: I was born and raised in NYC (Queens, Long Island) Current 2-family rental is in Queens Village I work full-time at a growth-stage technology company in NYC on their Strategy team My goals are to get 10 additional doors under my management in the next 3 years. 

How about attorney in New York City- Long Island area?

My hope would be that between multiple trips to the island, maybe relocating a parent there, and my friend in the area it would be manageable.